Sample Partnership Agreement 
                                                                                           
                           1. Partners 
                           ___________________________________________ (Partners) make the following 
                           Partnership Agreement. 
                            
                           2. Creation of Partnership 
                           As of ___________________, the Partners agree to enter into a Partnership for the 
                           purpose of operating a business known as: ____________________________________ 
                           (Partnership Business). 
                           The name of the Partnership (if different from name of Partnership Business) shall be: 
                           ____________________________________ (Partnership Name). 
                            
                           3. Nature of Partnership Business 
                           The Partnership Business will consist of the following business activities: 
                           ________________________________________________________________________
                                                                                                                                                          
                            
                           4. Contributions to the Partnership 
                           The Partners will make the following contributions to the Partnership: 
                                                                  Cash             Other Contribution                                   Total 
                           Partner Name                           Contribution     (describe property and/or work; give cash value)     Contribution 
                                                                                                                                        Value 
                                                                  $                                                                     $ 
                                                                                    
                                                                                   Total cash value: 
                                                                                   Total cash value:  
                                                                  $                                                                     $ 
                                                                                    
                                                                                    
                                                                                   Total cash value:  
                                                                  $                                                                     $ 
                                                                                    
                                                                                    
                                                                                   Total cash value:  
                                                                                           
                           Sample Partnership Agreement                                                     
                        Sample Partnership Agreement 
                                        
            5. Profit and Loss Allocation 
            The Partners will share business profits and losses as follows: 
              [  ] in the same proportions as their contributions to the business.  
              [  ] as follows: __________________________________________________. 
             
            6. Management of Partnership Business 
            The Partners will have the following management powers and responsibilities: 
              [  ] The Partners will have equal management powers and responsibilities. 
              [  ] The Partners will share management powers and responsibilities as follows: 
              ________________. 
             
            7. Addition of a Partner 
            A new Partner may be added to the Partnership under the following conditions: 
              [  ] unanimous vote of all Partners. 
              [  ] majority vote of Partners. 
              [  ] other conditions: __________________________________________. 
             
            8. Departure of a Partner 
            A Partner can be expelled by: 
              [  ] unanimous vote of the other Partners. 
              [  ] majority vote of the other Partners. 
            Any Partner who leaves voluntarily will give at least 30 days' written notice. 
            If any Partner leaves the Partnership for any reason, including voluntary withdrawal, 
            expulsion, or death, the Partnership will [  ] survive. [  ] dissolve. 
            Sample Partnership Agreement                                                     
                                Sample Partnership Agreement 
                 
                If the Partnership survives, the remaining Partner(s) will pay, within a reasonable time, 
                the departing Partner, or the deceased Partner's estate, the fair market value of the 
                departing Partner's share of the business as of the date of his or her departure. The 
                Partnership's accountant will determine the fair market value of the departing Partner's 
                share of the business according to the following method: _____________________. 
                 
                9. Dispute Resolution 
                If a dispute arises under this Agreement, the Partners agree to first try to resolve the 
                dispute with the help of a mutually agreed-on mediator. The Partners will share any costs 
                and fees other than attorney fees equally. If it is impossible to arrive at a mutually 
                satisfactory solution, the Partners agree to submit the dispute to binding arbitration in the 
                same city or region, conducted on a confidential basis pursuant to the Commercial 
                Arbitration Rules of the American Arbitration Association. 
                 
                10. Amendment of Agreement 
                This agreement cannot be amended without the written consent of all Partners. 
                 
                11. Partner Signatures 
                Name: ___________________________       Name: ___________________________ 
                _________________________________       _________________________________ 
                Signature                               Signature 
                Date: ____________________________      Date: ____________________________ 
                Address: _________________________      Address: _________________________ 
                _________________________________       _________________________________ 
                Social Security # __________________    Social Security # __________________  
                 
                Sample Partnership Agreement